Opening a Euro bank account for a Panamanian company

[ecky]

I need to open a Euro bank acocunt for my Panamanian company. I am a UK citizen with Panamanian residency. Panama banks are a bit of a headache to deal with, especially considering all business operations will be outside of Panama. Anyone have any advice about the best/easiest country to open an account for a foreign entity?

Any help would be greatly appreciated, I need to get this account opened as soon as possible.

 

[Jerry1911]

I assume it will be very hard to get an actual bank account without a significant minimum deposit whereas it will be fairly easy to open an EMI account albeit with high fees most likely.

 

[ecky]

Jerry1911 said:
I assume it will be very hard to get an actual bank account without a significant minimum deposit whereas it will be fairly easy to open an EMI account albeit with high fees most likely.
Click to expand...

This is exactly what I am starting to realise. Any advice on the best EMIs for my situation? Wise unfortunately doesnt accept Panama companies anymore.

 

[Jerry1911]

Start here https://thebanks.eu/emis/business-accounts-with-iban

 

[csp dubai]

i have an lt emi that will open to panama company , pm me

 

[Sols]

csp dubai said:
i have an lt emi that will open to panama company , pm me
Click to expand...

Why not share it with everyone?

Toggle signature
This is the probably the answer to your question.

 

[ecky]

csp dubai said:
i have an lt emi that will open to panama company , pm me
Click to expand...

Done, please let me know, having a nightmare finding one.

 

[csp dubai]

i not received your pm

i not want too much advertising, this forum only bring bad advertising

 

[ecky]

csp dubai said:
i not received your pm

i not want too much advertising, this forum only bring bad advertising
Click to expand...

I wrote a message on your profile. I am not sure how to send pms on ths forum, maybe I dont have permission? Can you try to send me one.

 

[GeneralGogol]

Go over the list of all EMIs in the forum, maybe you will be lucky. Forget about banks, only EMI will touch you with Panama corp.

Either way the better long-term solution will be to close your Panama company as Panama is radioactive these days.

 

[Jerry56]

GeneralGogol said:
Go over the list of all EMIs in the forum, maybe you will be lucky. Forget about banks, only EMI will touch you with Panama corp.

Either way the better long-term solution will be to close your Panama company as Panama is radioactive these days.
Click to expand...

Where else would you incorporate? It seems every country that allows a tax free option is radioactive

 

[Jerry1911]

Jerry56 said:
Where else would you incorporate? It seems every country that allows a tax free option is radioactive
Click to expand...

UAE freezone with substance or a US LLC/UK LLP, depending on personal residence.

Channel Islands might be an option as well, also with substance.

 

[lostguy]

csp dubai said:
i not want too much advertising, this forum only bring bad advertising
Click to expand...

explain please?

 

[Jerry56]

Jerry1911 said:
UAE freezone with substance or a US LLC/UK LLP, depending on personal residence.

Channel Islands might be an option as well, also with substance.
Click to expand...

Thanks for the response. All this is terribly confusing for me 😛 I feel like I need to go to school to figure this stuff out. All I want is for a Canadian client to pay a corporation that is outside of Canada (would need a Canadian bank account) which will create tax-free income for that company. Then draw very little as a wage, being personally taxed in Canada.

I think I am getting too old to figure this stuff out now 🙂

 

[ecky]

GeneralGogol said:
Go over the list of all EMIs in the forum, maybe you will be lucky. Forget about banks, only EMI will touch you with Panama corp.

Either way the better long-term solution will be to close your Panama company as Panama is radioactive these days.
Click to expand...

I am resident in Panama so it seemed like the best option. If I can get a Panama bank account opened then it wont be a problem but that is a major headache, the problem with EMIs is they dont accept or issue LCs.

Maybe you are right but at this point anywhere tax-free is frowned upon by banks. UAE could be an option but that seems like a lot of hassle also, if I have no intention of spending any time there.

Fulton Abraham Sanchez said:
There is a bank in the Bahamas that can take you, but it needs introduction.
Click to expand...

Would I need to show up in person or could it be done remotely if I can get an introduction?

 

[csp dubai]

i have sent you a pm check if you got it

 

[ecky]

csp dubai said:
i have sent you a pm check if you got it
Click to expand...

I got the public post on my profile it wont let me reply directly there, there I will send another post on your profile.

csp dubai said:
i have sent you a pm check if you got it
Click to expand...

I received the message on my public profile but I cannot reply there, I wrote a message on your profile with my email address if you could contact me there would be much appreciated.

Last edited: Jul 20, 2022